Seadrill and SapuraKencana have today entered into a conditional sale and
purchase agreement in relation to the proposed transaction. SapuraKencana
will
acquire all the tender rigs in Seadrill's fleet except for the West
Vencedor,
T15, and T16. These three rigs are either owned or planned to be owned by
Seadrill Partners LLC. Seadrill will in a transition period in co-operation
with
SapuraKencana retain the management of all tender rigs that are in
operation
outside Asia.

The agreed acquisition price is for an enterprise value of US$2.9 billion
and
includes future capital commitments for newbuildings T17, T18, and West
Esperanza. Seadrill will furthermore continue to manage and supervise the
construction of the current new building program on behalf of
SapuraKencana. In
addition, the enterprise value includes all the debt in the tender rig
business
which is estimated at US$780 million as of February 6, 2013. Seadrill has
agreed
to pay US$75 million to SapuraKencana at closing to compensate for cash
flow
from the tender rig business from February 8, 2013 to closing, netted off
for
lost interest income.

The transaction is expected to close by the end of April 2013.

John Fredriksen, Chairman, President and Director of Seadrill says in a
comment,
"We are pleased to have reached an agreement with our long-term partner,
SapuraKencana, regarding the sale of our tender rig fleet. We look forward
to
support the integration of the tender rig fleet and are excited to start a
new
phase of our long and profitable relationship. Seadrill is as a large
shareholder of SapuraKencana and is excited to contribute building
SapuraKencana
into the leading offshore service provider in South East Asia. Seadrill
will as
stated before use the net proceeds from the transaction to continue to
aggressively grow our modern ultra-deep-water and jack-up exposure."

This information is subject of the disclosure requirements pursuant to
section
5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:

(i) the releases contained herein are protected by copyright and
other applicable laws; and

(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.

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